Exelixis (NASDAQ:EXEL) Price Target Raised to $33.00 at Guggenheim

Exelixis (NASDAQ:EXEL) had its target price boosted by Guggenheim from $32.00 to $33.00 in a report released on Wednesday morning, Benzinga reports. Guggenheim currently has a buy rating on the biotechnology company’s stock.

Several other equities analysts have also recently weighed in on the company. Truist Financial lifted their price objective on Exelixis from $33.00 to $38.00 and gave the company a “buy” rating in a report on Wednesday. Stifel Nicolaus upped their price objective on shares of Exelixis from $26.00 to $30.00 and gave the stock a “hold” rating in a research report on Wednesday, October 16th. JMP Securities reiterated a “market outperform” rating and set a $29.00 price objective on shares of Exelixis in a research note on Friday, October 11th. The Goldman Sachs Group upgraded shares of Exelixis to a “strong sell” rating in a research report on Tuesday, October 15th. Finally, Bank of America increased their price target on shares of Exelixis from $30.00 to $32.00 and gave the stock a “buy” rating in a research report on Tuesday, October 15th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $31.44.

Exelixis Stock Performance

Shares of Exelixis stock opened at $32.44 on Wednesday. The firm has a 50-day moving average of $26.81 and a 200-day moving average of $24.15. Exelixis has a 52-week low of $19.20 and a 52-week high of $33.32. The stock has a market cap of $9.25 billion, a PE ratio of 27.97, a PEG ratio of 0.61 and a beta of 0.54.

Exelixis (NASDAQ:EXEL) last announced its earnings results on Tuesday, August 6th. The biotechnology company reported $0.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.31 by $0.44. Exelixis had a net margin of 17.38% and a return on equity of 15.54%. The firm had revenue of $637.18 million for the quarter, compared to analyst estimates of $468.21 million. Equities research analysts predict that Exelixis will post 1.58 earnings per share for the current fiscal year.

Insider Buying and Selling at Exelixis

In other news, EVP Dana Aftab sold 95,000 shares of Exelixis stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $25.00, for a total transaction of $2,375,000.00. Following the transaction, the executive vice president now owns 520,990 shares in the company, valued at approximately $13,024,750. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director George Poste sold 33,725 shares of the stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $26.89, for a total value of $906,865.25. Following the completion of the sale, the director now owns 199,020 shares of the company’s stock, valued at approximately $5,351,647.80. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Dana Aftab sold 95,000 shares of Exelixis stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $25.00, for a total value of $2,375,000.00. Following the completion of the transaction, the executive vice president now directly owns 520,990 shares in the company, valued at approximately $13,024,750. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 352,858 shares of company stock worth $9,349,879. 2.85% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in EXEL. V Square Quantitative Management LLC acquired a new stake in shares of Exelixis during the third quarter worth $30,000. Park Place Capital Corp bought a new stake in Exelixis during the second quarter valued at $45,000. GAMMA Investing LLC boosted its position in Exelixis by 107.9% during the second quarter. GAMMA Investing LLC now owns 2,006 shares of the biotechnology company’s stock valued at $45,000 after acquiring an additional 1,041 shares during the last quarter. EntryPoint Capital LLC grew its holdings in Exelixis by 537.2% during the 1st quarter. EntryPoint Capital LLC now owns 2,071 shares of the biotechnology company’s stock worth $49,000 after acquiring an additional 1,746 shares during the period. Finally, Essex Investment Management Co. LLC bought a new position in shares of Exelixis in the 3rd quarter worth about $74,000. Institutional investors own 85.27% of the company’s stock.

About Exelixis

Exelixis, Inc, an oncology company, focuses on the discovery, development, and commercialization of new medicines for difficult-to-treat cancers in the United States. The company offers CABOMETYX tablets for the treatment of patients with advanced renal cell carcinoma who received prior anti-angiogenic therapy; and COMETRIQ capsules for the treatment of progressive and metastatic medullary thyroid cancer.